Reinstatement of Clean Air Interstate Rule is Bullish for Clean Tech Stocks (FTEK, MDR, FWLT, more)

An analyst at Broadpoint.AmTech is out with a research note today following last week's announcement that a Federal Appeals Court in Washington DC had reinstated the Clean Air Interstate Rule, an act which had been overturned in court in July. The analyst believes the news will have immediate positive implications for clean technology stocks such as Fuel Tech (Nasdaq: FTEK), McDermott (NYSE: MDR), URS Corp. (NYSE: URS), Foster Wheeler (Nasdaq: FWLT), and Fluor (NYSE: FLR).

According to Broadpoint.AmTech, the Clean Air Interstate Rule, or CAIR for short, regulates "the amount of nitrogen dioxide and sulfur dioxide emissions from power plants in 28 eastern states." Additionally, the firm expects the incoming Obama administration to "provide additional legislative support for a shift to cleaner burning generation..."

The firm has Buy ratings on Fuel Tech, McDermott, URS, and Fluor, and a Neutral rating on shares of Foster Wheeler. Specifically, the AmTech analyst calls Fuel Tech "the most leveraged to CAIR" and has a $14 price target on the stock. The analyst also has a $22 price target on McDermott, a $50 price target on URS, a $58 price target on Fluor, and a $25 price target on Foster Wheeler.

You May Also Be Interested In

• Freedom Broker Upgrades John B. Sanfilippo & Son, Inc. (JBSS) to Buy
• Rubrik Inc (RBRK) PT Raised to $120 at Oppenheimer; Sees Another 'Beat and Raise'
• Rubrik Inc (RBRK) PT Raised to $120 at Cantor Fitzgerald Into Q2 Earnings